Can purchasing power parity help forecas
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Steven J. Cochran; Robert H. Defina
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Article
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1995
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John Wiley and Sons
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English
β 654 KB
This paper examines the information on future exchange rate movements provided by the doctrine of purchasing power parity (PPP). Previous research has studied this issue by analysing the time-series properties of period-by-period levels of, or changes in, exchange rates. In contrast, the present stu